Xsolla SPAC 1 (NASDAQ: XSLL) announced that the underwriters of its initial public offering partially exercised their over-allotment option to purchase an additional 419,385 units at $10.00 per unit, generating approximately $4.2 million in additional gross proceeds. This brings the total units sold in the offering to 20,419,385, resulting in aggregate gross proceeds of $204,193,850. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. D. Boral Capital LLC acted as the sole book-running manager for the offering.
The partial exercise of the over-allotment option signals continued investor confidence in Xsolla SPAC 1, a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company has not yet selected any specific business combination target and has not engaged in substantive discussions with any target.
Xsolla SPAC 1 is led by a management team including Aleksandr Agapitov as Chairman of the Board, Dmitry Burkovskiy as Chief Executive Officer and Director, Rytis Joseph Jan as Chief Financial Officer and Director, and Carla Bedrosian, Esq., as Chief Legal Officer and Director. The Board also includes Xuan Li, Maxwell Gover, Wenfeng Yang, Perry Michael Fischer, and Eugenie Levin.
For more information about Xsolla SPAC 1, visit http://xsollaspac.com/.
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